Texas Permanent School Fund lifted its holdings in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,643 shares of the auto parts company’s stock after buying an additional 543 shares during the period. Texas Permanent School Fund’s holdings in BorgWarner were worth $1,056,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of BorgWarner by 2.2% during the first quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after buying an additional 570,039 shares during the period. Victory Capital Management Inc. lifted its position in BorgWarner by 3.9% in the first quarter. Victory Capital Management Inc. now owns 10,109,422 shares of the auto parts company’s stock worth $393,159,000 after purchasing an additional 375,207 shares during the period. Diamond Hill Capital Management Inc. lifted its position in BorgWarner by 0.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,834,363 shares of the auto parts company’s stock worth $265,857,000 after purchasing an additional 32,953 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of BorgWarner by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,494,390 shares of the auto parts company’s stock valued at $252,641,000 after acquiring an additional 184,060 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of BorgWarner by 13.9% during the 1st quarter. American Century Companies Inc. now owns 5,971,750 shares of the auto parts company’s stock valued at $232,302,000 after acquiring an additional 729,562 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BWA has been the topic of several recent analyst reports. StockNews.com raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Morgan Stanley raised their target price on BorgWarner from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, October 28th. Citigroup cut their target price on BorgWarner from $45.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, September 28th. Royal Bank of Canada raised their target price on BorgWarner from $46.00 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, August 4th. Finally, TheStreet upgraded BorgWarner from a “c+” rating to a “b” rating in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.22.
BorgWarner Stock Up 2.2 %
BorgWarner (NYSE:BWA – Get Rating) last posted its earnings results on Thursday, October 27th. The auto parts company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.22. BorgWarner had a net margin of 5.33% and a return on equity of 14.51%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. BorgWarner’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts anticipate that BorgWarner Inc. will post 4.37 earnings per share for the current year.
BorgWarner Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Wednesday, November 30th. BorgWarner’s payout ratio is 19.71%.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
- Get a free copy of the StockNews.com research report on BorgWarner (BWA)
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